Stocks End Sharply Higher

Simon Constable and Steven Russolillo review the day in markets, after the U.S. economy added 163,000 jobs in July, and Dan Neil test drives the Ferrari F12.

This transcript has been automatically generated and may not be 100% accurate.

... the ... stocks surging on Wall Street the Dow while of its two hundred points as stocks across the board really ... such a laugh a ... whole ... lot ... right here right now on the New Saab good afternoon and welcome I'm Simon call's will Steve Russolillo him ... from the markets saying thank you Brian much you are now ... aam ... this is quite has said she will use a Mrs would look back where we were off a week ago exactly so we had four days of losses heading into today ... the big surge today and now with the major indexes are pretty much re where they started this time a week ago so ... was I mean I mean today was a mistake that was greater than the earlier part of the week was obviously very tough so today though ... it's all about jobs jobs jobs jobs I mean that the big jobs and were ... really in it was kind of like a perfect scenario for the market in the sense that ... it was better than expected but it was a magnificent solution components to when one of Mama's most unexpected that was how many jobs were added in the economy going on on Josiah's hundred and sixty three thousand rather than economists are expecting my ... last beyond one white one up for the wrong reasons right brags that I know that ... and that's bad also yet I think as a whole though people look that this number they really look that the hundred sixty three thousand number and they said ok this debate the past month that the mind that ... the jobs market has had since March ... but that's really that's the that's an uplifting sign it but that said though it doesn't want to die to one and the new phone so I think also what was interesting is that it wasn't such a fantastic report in the sense that it will make the Fed back off but all I think the Fed stands ... as to whether it is going to come in and through my mouth for more money more money any saw any sort of ... more stimulus ... I don't think that the Fed's mindset has changed at all after this reform because as you said it is just one report ... I and it wasn't that great he was just a step in the right direction so when you combine those two forces together when you say OK ... economy looks like it's getting boom and all that better ... and then you have the Fed which is still in there and still going to do whatever it takes if needed ... those are two really bullish scenarios and that's why the markets I'm isn't too as and ... when we are seeing the manufacturing sector at me in that rates are needed to decline when we see NASA ... and that is the most Walsall palm of the U S economy ... aam and if anything the whole economy is moving like this up enough of the cycle for money fast when does this summer when the stocks that declined we know and contract we know we've gone into recession right what have we saw earlier this week that the ISN report that came in under fifty in that sort of the key line in the sand ... opt for manufacturing and soda that's deftly a worrisome sign in at no or very few people are saying that everything is all bets on what it means great in the economy ... but if it's on to invest this is the is is well I think what they're saying is this is a step in the right direction and so ... for now that's really all we have been in the grand scheme of things that kind of sad because is three months three years and the recovery in no way he wants to see more than just a step in the right direction but ... totally have it now so ... that's what is a big surge not only in stocks but oil oil was up huge detail more than four percent thousand status in more than a month ... of gold was also up so ... it all a lot of effort to live as a law degree nine people screens and ... Walgreen ... Cuts Wall Street is now thank you Brian much stayed ... the more market news on Monday me and the Wall Street gentle ... while the UN has ... reprimanded Syria ... we all my Coca joining us now on the phone from Beirut where she's covering the situation ... of mag out what exactly happened at the UN ... but we had a long-awaited ... today and the antennae of Radio City died yesterday there is that it fits one of the vivid supported the theory of Apple and for the overthrow of President ... regime in Syria ... they have managed to to get the call that the generous family Q that basically laughed ... if the flap on the wrist for for the government in Syria for a few could have the heavy weaponry ... I guess that that that the billion it during the ... conclave ... that elected symbolic of those have been watered down of the of the anime any real meaning ... that any sanctions against the government in Syria ... they did nothing to stop that it intends to keep the non if it bites again the armed rebellion hand at the National Committee still don't have a plan to try and increase about them Comfort Revolution here but in a diplomatic fashion ... it's like that ... the the the this service areas on the that is that doing all this massacre in his anemone take much notice of this I understand that while the nation's voted against this on this ... been reprimanded do you wanna call it back to ... Russia was included right ... SAN had taken at a big lead in the city Council over the last fifteen on the topic of traced the shape it into ... the dark ally of ... Syria and failed to hit the Korean taken a very anti Western anti to come to think and vote again Iraq Libya and that you name me the confidant of the last ten years than the wretched been on the up the fight at the UF dawned on that issue ... that would now we the antigraft I did it it basically doubling down with his relationship enough doubt he can get that ally in the key to the council which keep Financial thinks it can be in play against him ... and he had been Katie admission to lock down the path we can top economic officials ... are trying to negotiate ... AEM long-term agreement under which ... the government not know what I hear in oil and and that provide any yet knew foreign currency reserves for the government about it to keep up but it is military battle and and keep it reasonably happy ... aam is you're you're in a roof covering what's been serving or snow covering the rest of the Middle East that is tension rising that this situation in Syria ... spills over ... to to to be too short and to his trial to Iraq to the ramp apps that the extreme ... yes they did that a huge worry here in a beach and that it is an election and can travel a lot and the lower back because of this ongoing conflict right now you have ... and that that that that the refugees who are between five and ... I'm that they are in Jordan and the going on in Turkey and in Iraq and the andthe the mood in India a country where there are a different kind that ... of my planned to have the need to actually get to have the Qantas added that field under speech now ... and ability to surprise that thinking that I've been here worried that that that they're too if they're going to take up arms and and and joined the battle ... the Turk are worried that you also have had to keep the and and temperatures inside the country but to make them happy joint ... military commission on how ... the oh yes it did in the region it is very very worried ... is it isn't some ... stars back to bed but it's it's almost a hundred years since the beginning of World War one ... is a bad sore the havoc and where one wrong move that sent police nations and full scale war against each other ... there have been a bit and a couple of a situation that that really ... alarmed though ... I in in the past six months spiffy and then that in ... and shut down a Turkish and and ... and fighter jet earlier this year ... and they're out there with the quiche and in that bombing and did not get the lead two-and-a-half weeks ago that that killed ... the very senior member to the Beery he didn't ... know it may not be one in that and that that trying to drive the region into a larger ... and larger Warrick but the picture of the billion being killed the children being killed every day that ... are broadcast on on Europe language that might keep each of the lead and that he did it start to keep the pressure on on other government ... like that you read yet and might have tried to do something about that ... let's hope that the explosions way you see them was that or it's bad enough for a nice thank you Brian much Maggie profile twelve this story would continue to move so none of the ... stopping back with the Shirley yet as that develops ... question how did Michael Phelps to his final Olympics when ... will tell you ... the break ... the ... the ... welcome to news up at the beest live that is the medal count and we will look in and now because ... you'll notice that is the USA ... and China in the lead with forty two miles and then in Britain enjoyed the place with twenty two miles I find that out ... aam as a as a parade some feel ... it necessary to do some feel very proud of all small ... islands in the North Atlantic Basso any white wheat keeping track on maps ... well the question as to spoil Rolet counted Michael Phelps to do in his final race if you don't wanna know ... tunnel now again five minutes ... the meantime we'll Ben Cohen of the Wall Street John all ... of our psyche as I wanted you to know so I'd to talk about us to talk about it you don't know ... ALM so ... this was for real ... spoiler alert that Michael Phelps won his last and it too is that the Olympics or what he says is going to be a blast and the grace ... of the one a junior butterfly which might be his best individual or a potentially is the stroke and ... I see one previously its third gold medal of these games and ... after he lost a foreigner I answer I'm lofty on the first day of competition ... he's really come back pre strong since then even walked into and I am yesterday and ... now twenty two hundred by an individual employee right yet and in any way you have that that did little to ... swim for the wise yet which is problem in the four G Ryan is probably the toughest initial raise that to her I was half that but it still it probably crowds were the best was the world if not ... I'd you know it might not want to look and walked one of its own balance with some dry I definitely cannot ... I'm but ... now he's won three golds including a Realty is another one tomorrow and ... if you up to crown an individual male swimmer has had the best Olympics so far it's probably helps again ... as a nanny and this just adds to his raccoon of of of of so many metals ... and being absolutely that the most outstanding happily that seems right he's just building unannounced separating themselves ... even farther from what he was and it's really remarkable what he's done three Olympic now this is the second time in a row that he's won ... a race ... a race in three straight Olympic city yesterday he did again today that it is a good year ... to thirty knots that is that is as complete as well as hats off to mold is that now Missy Frankel and ... Argentina generous blowouts ... Chana Rice backstroke as animators ... she did ... it well ... this is Mrs best race to buy far this was the researchers expected to win going away and that's exactly what she did ... I she won gold the question release ... at around the one hundred mark was whether choose can win ... was continued by how much to shape the world record and spoiler again she ... not only brace or record for really shatters and I mean this was one of the best performances in London in any sport so far ... this killing the two hundred meter backstroke ... world record ... for her third gold of the game and ... of these games and you know ... she does to the health of the veteran here are missing is the rookie her first I mean she's the breakout star of the game so far in the first week isn't she mission must be well I mean it's good to see an empty and what's more Markwalter else is on the Street arms or that Missy is seventeen and is winning gold medals why is she gonna be the next post I just do this for the next three games and just be still demanded that he's just like a novice I mean I think I think it did to do in just twenty five mm so good to be a little bit younger actions to three times for honor noted is that we can expect anyone to do what else is done but ... for her to do it so young is remarkable and to expect her to do it the next time for sure something that that that they will see when the Kinstler Rio crowns will often ... buy around lunch time to go and watch Olympic coverage and YouTube dot com slashed Dalio's jagged ... though that now and the sub stride ... all warm Buffett is ... betting big on recovery and will side with more on the back half the price ... welcome new sub at the yes J live I'm Simon Constable ... Warren Buffett is betting big on the Williston recovering legal and Joe Light The will Street gentle hit a tells all about this and ... we hear all the people ought to ... re post Lehman warm Buffett ... so ... aam you know we've heard a lot of our recovery analysts say many many many times seemingly every year ... since the crash and Dom ... has really materialized with this and ... some bill saying it's different now ... bright will what is there any everything's working housing's theres no one ... knew who I inventories in the number of homes are for sale is that flows point in almost five decades ... on the price ... as Amazon dozens of the months of supply which typically is right to get what I was I was talking in terms of in terms of wrong number so I think about a hundred forty three thousand new homes for sale this point in five decades ... in terms of once a month to supply were just crossing below the six month supply threshold ... so at the current pace of sales and that a collapse in six months to sell through the current inventory of homes ... instead that initial dividing line between buyers and sellers market ... but the again the most positive thing we seen recently is finally we have home prices starting to inch up ... Heikki Shilling Tuesday said the prices that are five point nine percent on a seasonally adjusted basis ... and it we've had a couple months of that now all of the most important thing for home prices is a momentum ... now the momentum is in home prices favor you know that that that the things or do not know what we're good to ... me mean yet another of the many rebounds ... while but why it is when is warm Buffett of people think that this is just to be another example of a ... right to say see you talking bad about your half ago now I'm home prices home prices rose for an entire year in the desert dropping in Kenya during as it's become like the one I think would be dry have something to read what was that so we have two things the war working in their favor no one has the momentum that has just talking about the others price or emissions ... so traditional way of looking evaluation housing's comparing where home prices are where rents are ... just a way to compare prices but the price of stocks the earnings the stock's ... price to rent ratios ... are back to well they were in nineteen eighty eight which two thousandone depending on what induction looking into the four minutes before the state ... the housing boom saw so you talk to overcome some investors need of some Frank Agassi aam portfolio manager of Duff Phelps Investment Management he now one AC investing and that maybe it's own a small invest a good thing okay well ... if he's a smart guy and his CommICs money never acted to ... ensure Sicilian if you retell invests in iPad two ways to play a real city revamp one is on the housing sky which is what we're just talking about and there are several home builders like KB Home and one Nara which I joked losses KB Shack ... coupled with some analysts think ... our arms are poised to do well ... on onthe on ... what what had been easy and he's investing or commercial real estate ... investment trust which invests in commercial property soap and taking advantage of the other side ... he favors ... Realty Investment Trust a quarterly sometimes the things like ... apartment buildings and self storage units ... as releases as the economy gets better they can reserve the rents were quickly ... can ... great stuff ... I'm I think though I don't like and Womack in tomorrow's ... Wall Street on the impact of that up ... well it's time for the current year with Dan and they'll be saying the congregating Isiah valve it's a new ... Mary as ... a valve in Munich ... I did ... the goddess ASOS ... here I miss you greatly of course very light to join ... the crowd a very great Britain saw higher with ... small houses ... yes this one small as is but nice nice in some of the festival ... um something with the revealing of Harare ... and then today with the right this is the new ... you ... after all and it's ... very ... fast because of the word to describe ... this is ... the duty of frontage and beat well for ... the two seats is that they serve Super Grand touring for Ferrari ... plays into space and really there are not on cars to compete with that maybe the Mercedes S class and she ... on a dip or that the top ... but a very special car so what one of them along ... cost is this the snow we have the will to the zero to sixty ... cents cents a unit number seconds to get noticed at stake ... this one we call the zero two hundred and twenty four miles an hour ... and a enough seconds ... the ... things that you ... a key factor There ... strikers ... increasingly these seabirds I are really exceeded ... you know that that the entire technology ... so ... while they ... there's only so far it down for one or two seconds of a lot when they start to stand up they go like crazy this car ... is bz its plans for an eight point five seconds and that's that's the guy there ... and way faster then the former ... Ferrari Enzo ... its interesting some ... of the people to meet that says we're adding told people that I last aam and a sassy stabilizing make men think damp as it is I have no idea what I mean how much is that ... before that he is not what's in there ... with with with formats but to I ... every time ... the report is not the magnetic an important thing is that this car ... continues to exceed the limits of what seems possible now the problem is of course that ... it takes a little bit of fun and great performances often ... at odds with the experience of dry faster so that's where I stand ... I'll all that ... thank you Brian much Daniel ... and you too can see Daniel actually drive back on my YouTube channel YouTube dot com slashed the vs Jahnke Ella and have a great time watching I'm Simon Qassam on that's and that's the news of the now infamous wake of a great weekend ...